−Removed: The following table summarizes Patriot’s owned and leased properties, as of December 31, 2020:
+Added: The following table summarizes Patriot’s owned and leased properties, as of December 31, 2021:
Street Address
6 unchanged sentences
50 Charles Street
−Removed: 50 Church Street
16 River Street
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300 Centerville Rd
−Removed: At December 31, 2020, five branch buildings were owned and four branch facilities were leased.
−Removed: Additionally, the Bank maintains certain operating and administrative service facilities and additional parking at its main branch banking office, which is subject to ten non-cancelable operating lease agreements.
−Removed: Patriot’s lease agreements have terms ranging from one year to fifteen years with eleven years and seven months remaining on the longest lease term.
−Removed: Generally, Patriot’s lease agreements contain rent escalation clauses, and renewals for one or more periods at the Bank’s option.
−Removed: On May 10, 2018, the Bank completed its acquisition of Prime Bank.
−Removed: The closing of the transaction added a new Patriot branch located in the Town of Orange, New Haven County, Connecticut.
−Removed: On February 28, 2018, the Bedford branch was closed, and its business and staff transferred to the Scarsdale branch.
−Removed: At three of its branch buildings, the Bank has excess space that it leases to seven unrelated parties.
+Added: At December 31, 2021, five branch buildings were owned and four branch facilities were leased.
+Added: Additionally, the Bank maintains certain operating and administrative service facilities and additional parking at its main branch banking office, which are subject to ten non-cancelable operating lease agreements.
+Added: Patriot’s lease agreements have terms ranging from one year to fifteen years with ten years and seven months remaining on the longest lease term.
+Added: Generally, Patriot’s lease agreements contain rent escalation clauses, and renewals for one or more periods at the Bank’s option.
+Added: On December 22, 2021, the Bank sold its building located in the City New Haven, Connecticut.
+Added: The Bank maintains an ATM at that location and maintains a lease for the space needed for the ATM.
+Added: As of December 31, 2021, the Bank has excess space that it leases to four unrelated parties.
For additional information, see the Leases footnote disclosure in the consolidated financial statements included herein.
4 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.